Check my work uing Company's inventory is subject to shrinkage via evaporation. At the end of the current financial reporting period, the company's inventory had a cost of $100,000. Management estimates that evaporation has resulted in a 6 percent inventory loss suming that loss is recorded in a separate inventory loss account, prepare the general journal entry to record the inventory shrinkage for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry for the loss on inventory. Note: Enter debits before credits Transaction General Journal Debit Credit